Russian Financial Markets in December 2015

Russian Economic Developments. Moscow, 2016, No. 1, pp. 10-16

7 Pages Posted: 24 Jan 2016

See all articles by E. Gorbatikov

E. Gorbatikov

Gaidar Institute for Economic Policy

Elizaveta Khudko

Gaidar Institute for Economic Policy; Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Moscow Campus

Date Written: January 23, 2016

Abstract

December 2015 saw crude oil prices plunge, hitting 2008 lows. This pushed down the MICEX Index (5.7%) and all sector indices (except transport and chemical industries) and Russian blue-chip stocks (except VTB). MICEX average daily turnover and capitalization was down 7.8% and 7.7%, respectively, compared with the previous period under review. Norilsk Nickel removed LUKOIL from the list of top 3 stocks of MICEX daiy turnover. Investors continued to withdraw from Russia-focused mutual funds. The Russian corporate bond market slumped amid adverse external conditions, not leading to a seasonal market rally. Nevertheless, the key indicators such as corporate bond market volume and index saw moderately positive dynamics; investors and issuers activity remained at high level. An increase, small though it was, in the weighted average yield rate of bond issuances and worsening of the problem with Russian bonds that default were the key adverse factors.

Keywords: Russian economy, financial markets

JEL Classification: G1, G3, G15

Suggested Citation

Gorbatikov, E. and Khudko, Elizaveta, Russian Financial Markets in December 2015 (January 23, 2016). Russian Economic Developments. Moscow, 2016, No. 1, pp. 10-16, Available at SSRN: https://ssrn.com/abstract=2720794

E. Gorbatikov

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Elizaveta Khudko (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Moscow Campus ( email )

Moscow, 119571
Russia

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